Investing.com UK - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Fyffes hikes FY EPS forecast by 20 percent

Published 19/06/2015, 08:12
© Reuters. Bananas bearing Fyffes stickers are displayed on a market stall in central London
FFY
-

DUBLIN (Reuters) - Fruit distributor Fyffes (I:FFY) on Friday raised its full-year forecast for earnings per share by 20 percent, citing higher fruit prices and currency tailwinds.

The Irish firm, whose proposed merger with Chiquita Brands collapsed last year, forecast 2015 earnings per share would be between 12.2 and 13.9 cents per share, up from a range of 10-11.8 cents, an increase of 20 percent at the mid-point.

"Management's goal of moving the business to a higher and more sustainable earnings base is playing out," said Davy analyst Declan Morrissey. "Fyffes remains undervalued on earnings and returns-based metrics."

© Reuters. Bananas bearing Fyffes stickers are displayed on a market stall in central London

Fyffes shares opened up 9 percent at 1.29 euros.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.